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Caterpillar, Cheniere, LinkedIn, Tech Data: U.S. Equity Movers

Shares of the following companies are having unusual moves in U.S. trading today. Stock symbols are in parentheses and prices are as of 2:30 p.m. in New York.

Industrial and commodity shares fell as a report indicated manufacturing may slow in China and concerns increased that Europe’s debt crisis is worsening. Caterpillar Inc. (CAT) , the world’s largest maker of construction equipment, fell the second-most in the Dow Jones Industrial Average, sinking 2 percent to $102.32. Joy Global Inc. (JOYG) , maker of P&H and Joy mining equipment, slid 3 percent to $87.60.

Cabot Oil & Gas Corp. (COG) lost 2.6 percent to $53.26. International Paper Co. (IP) slipped 3.7 percent to $30.14 for the biggest retreat in the Standard & Poor’s 500 Index.

Bio-Reference Labs Inc. (BRLI) slipped 4.2 percent to $23.90 and declined 7 percent earlier, the most intraday since Dec. 16. The company may be overvalued as it trades at a 25 percent valuation premium over competitors while its margins are about half, Barron’s reported, without citing anyone.

Boeing Co. (BA) dropped 1.3 percent to $76.52 and fell to $75.77 earlier, the lowest intraday price since April 27. The company’s plan to ship the first of its newest jumbo jets by mid-2011 as part of the “Year of the 747” risks another delay that would add to the 18-month setback for the plane, Cowen & Co. and JPMorgan Chase & Co. said.

CF Industries Holdings Inc. (CF) rose the most in the S&P 500, climbing 6.1 percent to $147.50. The world’s second- largest maker of nitrogen fertilizer was boosted to “overweight” from “neutral” by JPMorgan Chase & Co., which cited “its valuation, solid cash flow characteristics, strong crop prices and a favorable outlook for agricultural fundamentals in the years ahead.”

Cheniere Energy Inc. (LNG) had the second-biggest increase in the Russell 2000 Index, surging 17 percent to $11.77. The Blackstone Group LP-backed owner of a U.S. liquefied natural-gas terminal rallied for a second day after winning government approval to export the fuel to more countries.

China Fire & Security Group Inc. (CFSG) jumped 16 percent to $8.48 and rallied 17 percent earlier, the most intraday since February 2010. The Beijing-based maker of safety products is being acquired by Bain Capital Partners LLC for $9 a share.

DemandTec Inc. (DMAN) fell 4.4 percent to $9.58 after slumping to $8.94 earlier, the lowest intraday price since Sept. 23. The San Mateo, California-based provider of consumer demand management software was cut to “market perform” from “market outperform” at JMP Securities LLC.

Krispy Kreme Doughnuts Inc. (KKD) climbed the most in the Russell 2000 Index, rising 24 percent to $7.93. The doughnut chain reported first-quarter earnings of 13 cents a share, beating the 9-cent average analyst estimate in a Bloomberg survey.

LinkedIn Corp. (LNKD US) declined 2.1 percent to $91.16 after dropping as much as 9.8 percent. LinkedIn, the first major U.S. social-media company to go public, more than doubled following its initial public offering last week. The drop is “a natural reaction to the surge in the stock price that occurred last week, especially given the market weakness” today, according to Clay Moran, an analyst at Benchmark Co.

Pinnacle Entertainment Inc. (PNK) rose 2.6 percent to $14.02 after gaining as much as 6.6 percent, the most intraday since Jan. 13. The U.S. casino owner was raised to “outperform” from “neutral” by Credit Suisse Group AG analyst Joel Simkins, who said he was more confident in the company’s prospects after visits to its properties.

Tech Data Corp. (TECD) fell the most in the Russell 1000 Index, dropping 12 percent to $47.17. The distributor of computer products posted first-quarter profit and sales that missed analysts’ estimates.

To contact the reporters on this story: Lu Wang in New York at lwang8@bloomberg.net; Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

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